What’s Important When Evaluating a Legal Executive Search Firm?

The metrics and data you should look for before committing

Organizations hire legal executive search firms for a variety of reasons. Perhaps they don’t have the time or bandwidth to conduct a search, or maybe they simply prefer to put it in the hands of hiring experts.

Whatever the reasoning, it’s important to choose the right firm to get the job done. Companies can’t afford to leave a legal position vacant for an extended period or, worse yet, make a bad hiring decision or waste time rejecting a string of candidates who aren’t right for the position.

But finding a legal executive search firm that has the right experience, success rate, and cultural fit with your organization can itself seem like a challenge. To evaluate a firm, it’s important to look at both hard data—such as retention and placement rates—as well as nuanced information, such as client satisfaction and proposed timelines.

Here are some of the key evaluation factors that can help you make the right decision:

Metrics to gauge an executive legal search firm’s success

Before you ask a search firm for its performance record, you need to decide which metrics are most important to your organization. Some numbers may not be as high-priority as others.

Placement rate

Since this is the purpose of hiring an executive search firm, it’s important that they at least have an impressive placement rate. Luckily, this is an easy statistic to measure. What is the ratio of assignments to candidates that were hired?

Days to fill a position

The average length of time it takes for the firm to successfully place a candidate is also important. If your organization needs to hire quickly, a six-month-average timeline might not suit your needs. Other companies are okay with a longer timeframe, as long as they find the right hire. Many firms will be able to provide more detailed timelines based on industry, role, and experience, as each position and company has its own nuances.

Retention rate

Placing a candidate is one thing, but placing one that ‘sticks’ is a different, highly-successful story. This metric is arguably more valuable than placement rate because you want your in-house legal hire to stay for the long term.

Seeing a low retention rate should raise red flags. You want a search firm that will work to understand your company to make an educated decision about which candidates will fit.

Diversity rate

If maintaining diversity is important to your organization—and this is a prime concern in the legal profession— you’ll want to hire a firm that has the same priorities and considers candidates from all backgrounds. Pay attention to the firm’s percentage of female and minority placements.

Dig a little deeper to uncover an executive search firm’s track record

While these numbers lay the foundation of what an executive search firm can do, they don’t show the whole story. To truly understand the history and performance of the search firms you’re considering, you need to look beneath the surface.

Get references from previous clients and candidates

No one can give you a better perspective on the process than clients who have been through it before. Many firms will provide you with references to contact—but if they don’t, be sure to ask for several. Ask about their experience with the firm and how the candidate is working out.

It may also be helpful to speak with candidates who were placed by the firm. Although they are not the client, they were an integral part of the process. Ask about their interactions with the search consultants and how well they think they were placed at their new company.

Understand their communication style

In order for your relationship with the search firm to work, you need to have clear expectations and understanding of their communication style. This is also something you can ask references about when you contact them.

How often were they updated? Did they feel the firm was forthcoming and honest? Did the communication continue after placement to ensure a successful transition?

What expertise and experience does the firm have?

You want to hire a firm that has the right amount of expertise and experience to understand the candidate you’re looking for. Finding a partner that has experience in your particular industry—and in very specific legal practice areas—makes it easier and more natural for them to find a candidate to fill that in-house position. They know the requirements of that job and can speak authoritatively to both parties.

You want a firm with significant experience, which means they are probably doing something right. It also means they probably have an impressive network of candidates to help in your search. This will not only cut down on time but on the likelihood of a successful placement.

Will the firm put in the work to understand you?

This is another question to ask references and the members of the search firm. Did candidates feel that the search firm took the time to understand their company, the open position, and the requirements of potential candidates? Ask the search consultant about their process and how they learn about your company and the open position.

Search firms need to understand not only what’s on the job description, but what your company culture is like and what personality type you are hoping to see in an in-house legal hire.

Choosing the right legal executive search firm

Doing your homework before deciding on a legal executive search firm will set you up for a successful hiring process. You’re less likely to encounter surprises and run into problems along the way.

Carrington Legal has 20 years of experience in the legal executive search field. We have particular expertise in the Financial Services and Technology verticals. Our clients range from Fortune 100 companies to startups looking for their first general counsel.

We value quality, listening, speed, communication, and diversity, above all else. Our nationwide network is filled with thousands of candidates, carefully chosen to create a diverse pool of top talent. We travel to both you and the candidate to personally ensure the best possible results for everyone.

We also know how transformational a good hire can be—and it’s important to us that you trust us to get the job done. We’ll be with you through the entire process, from interview to offer and beyond.

To make our nationwide network work for you, get in touch at 512-627-7467 or email carrie@carringtonlegal.com.